IRGC political deputy says traffic in the Strait of Hormuz will only be done with Iran's permission, ISNA reports; "Any kind of traffic in the Strait of Hormuz, if it is from the enemy, will be met with a decisive and crushing response"
Context
This statement from the IRGC's political deputy suggests a heightened tension in the Strait of Hormuz, a crucial global shipping route for oil. The insistence that Iran will control traffic underscores the risk of military confrontation that could disrupt oil supplies, thereby influencing WTI prices and broader energy markets. Traders should be vigilant for potential volatility in oil prices and shifts in risk appetite stemming from this geopolitical stance.
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